TMI Blog2011 (10) TMI 458X X X X Extracts X X X X X X X X Extracts X X X X ..... is a question of fact. No substantial question of law arises. - ITA No.272 of 2011 - - - Dated:- 13-10-2011 - MR. JUSTICE HEMANT GUPTA, MR. JUSTICE G.S. SANDHAWALIA, JJ. Shri Inderpreet Singh, Advocate, for the appellant(s). Hemant Gupta , J. (Oral): The revenue is in appeal under Section 260A of the Indian Tax Act, 1961 (for short the Act) arising out of the order passed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irsa by reducing the N.P. Rate to 4% of gross receipts as against 12% decided by learned CIT(A)? The said questions of law are claimed on the fact that the assessee furnished his return on 31.10.2006 declaring total income of Rs.12,80,189/-. The Assessing Officer served notice under Section 143(2) and 143(1) of the Act and after giving opportunity, framed best judgmentassessment applying net ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mediately preceding assessment year. The sole argument raised by learned counsel for the appellant is that this Court has upheld the rate of 12% as net profit in the case of civil contractor, therefore, there was no reason as to why such rate could be interfered with by the Tribunal. We do not find any merit in the said argument. The assessee's return for the year 2003-04 was accepted unde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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